Labors work on a pile of iron ore at a steel factory- REUTERS-Kim Kyung-Hoon Labors work on a pile of iron ore at a steel factory- REUTERS-Kim Kyung-Hoon

2020 strategy for building materials sector to launch August

Sat, Jul. 15, 2017
CAIRO – 15 July 2017: Minister of Industry Tarek Kabil will ratify a new strategy for the building materials sector “within days”, head of the Building Materials Chamber Ahmed Abdel Hamid said Saturday.

The chamber, which is affiliated to the Federation of Egyptian Industries, will launch its 2020 strategy in Egypt, targeting developing exports of the sector.

Abdel Hamid said in a Saturday statement that their strategy comes in line with the plan of the Ministry of Industry to boost the contribution of the industrial sector to 20 percent of the gross domestic product (GDP) from 18 percent.

The ministry’s strategy also shoots for an 8 percent growth rate in the industrial sector in the upcoming years.

To double exports, the chamber’s plan will focus on increasing the involvement of small and medium industries in GDP, developing the workforce, improving industry standards and upgrading infrastructure.

The building materials sector represents 27 percent of industrial exports, Abdel Hamid added.
 
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